Lilly said it was recently made aware of allegations of an inappropriate personal relationship between Smiley and an employee, and the company immediately hired external counsel to conduct an independent probe.
Lilly said its antibody cocktail reduced the risk of death and hospitalization in high-risk patients by 70%, while Regeneron said its cocktail prevents COVID-19 in people exposed to the coronavirus.
Lilly will pay $22.50 per Prevail share plus one contingent value right worth up to $4.00 per share, payable upon the first regulatory approval of a product from Prevail's pipeline.
